Compliance Officer
Compliance Officer - Private Wealth Management needed for London subsidiary of Global Private Wealth Management firm.
Role Duties:
* The role involves the management and development of the local Compliance function for UK entities such that the activities of those entities remain within the regulations of any applicable regulator.
* Coverage of regulatory issues concerning general matters, new markets and products, cross border marketing, the application and interpretation of the FSA Rules, reputational and regulatory risk and the annual refinement and implementation of a comprehensive Compliance Monitoring Programme.
* Liaison and relationship management with UK regulators including regulatory reporting where necessary
* Undertake the Compliance Oversight Function for firm entities trading in the UK.
* Act as Money Laundering Reporting Officer for regulatory purposes and act as Nominated Officer under the Money Laundering Regulations.
* Act as CASS officer for firm entities in London.
* Complaint handling and tracking and liaison with regulators if necessary.
* Facilitate the approval of staff to undertake functions that require approval by UK regulators.
* Identify any regulatory changes (either rules or guidance) affecting the UK entities and ensure that the necessary processes and control are put in place so that the UK entities comply with them.
* Liaise with Legal Department on client and legal documentation.
* Ensure that compliance related Directives Procedures remain up to date.
* Report to Group and Local management on compliance issues and monitoring results and exceptions.
* Maintain procedures for identification and classification of customers.
* Maintain adequate anti money laundering monitoring processes.
* Assist staff with interpretations of the rules and assist in the development of a positive compliance culture.
* Report as and when necessary on observations/implications of policy or strategy decisions.
* Contribute to product level compliance with laws and regulations through a detailed understanding of local regulatory requirements and coordination with Group product specialists.
* Maintain standards of regulatory risk management thorough an effective process of risk identification, assessment and mitigation.
* Investigate and report upon breaches of regulations and assist with remedial action.
* Support the business in integrating Treating Customer Fairly principles and outcomes into the overall business culture and help to ensure that adequate management information is available to assess TCF compliance.
* Participate in the account opening committee and ensure that all necessary KYC and other compliance checks are performed on all new accounts prior to submission to the committee.
* Meet with the heads of the business lines on a regular basis (at least every six months) to ensure that familiarity with the business activities is current and by implication that the entities remain within their regulatory permissions.
* Assist with provision of staff training and in particular training required under the money laundering regulations.
Skill Set Required:
* Proven solid, clean track record of working in compliance within the Private Wealth or Asset Management industry.
* Preferably have experience holding the registered CF10, CF10a and CF11 functions and happy to take these on again; or at a level where you can easily transition in to this level of role.
* Able to work in a stand alone capacity.
* Able to liaise effectively with compliance counterparts overseas.
* Need someone who is a happy to get their hands dirty in all aspects of compliance.
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